Sections SEARCH Skip to content Skip to site index Politics Subscribe Log In Subscribe Log In Today’s Paper Advertisement Supported by ByBinyamin Appelbaum Sept. 17, 2018 WASHINGTON — President Trump is building a wall of tariffs around the domestic economy, attempting to protect American jobs by limiting imports. But a tire factory that opened last year in Richburg, S.C., offers a reminder that globalization is hard to stop. In 2009, American tire makers persuaded the Obama administration to impose tariffs on Chinese tires, and imports of tires from China fell sharply. But Chinese companies did not stop making tires in response to the tariffs — they simply moved production to other places, including to the United States. Giti, one of the largest tire makers in China, built the South Carolina factory to make low-cost tires for Walmart. Two other Chinese tire companies are building plants in the neighboring … [Read more...] about Trump Says Tariffs Will Save American Factories. History Shows Otherwise.
Vietnam import policies tariffs and restrictions
Wood exports continue expanding in first months of 2018 An upturn has been seen in exports of wood and wooden products, with export value in the first five months of 2018 reaching 3.3 billion USD, up 8.2 percent from the same period last year. The top four markets were the US, China, Japan and the Republic of Korea (RoK), together accounting for 78.1 percent of total export revenue. Strong growth was seen in the RoK and the US markets, with 45.3 percent and 9.7 percent respectively. In the first four months of 2018, Vietnam earned 1.1 billion USD from exporting wood and wooden products to the US, 367.3 million USD from China, 350.7 million USD from Japan and 288.8 million USD from the RoK. However, Nguyen Quoc Khanh, President of the Handicraft and Wood Industry Association of Ho Chi Minh City, warned that the US, the largest market for Vietnamese wood and wooden products, has prioritised the domestic wood sector by reducing corporate income tax from 35 percent to 25 percent. He … [Read more...] about BUSINESS IN BRIEF 24/6
Sections Skip to content Skip to site index Feature Inside Justin Trudeau’s campaign against the American trade war. Credit Photo illustration by Derek Brahney. Source photographs: Andrew Harnik/Associated Press, Mandel Ngan, via Getty Images and istockphoto. Supported by ByGuy Lawson June 9, 2018 The Canadians could see the trouble looming in the summer of 2016. Chrystia Freeland, Canada’s trade minister at the time, found herself, along with millions of Canadians, fixated on the unfolding United States presidential election, and it was becoming impossible to overlook the gathering clouds of protectionism. Donald Trump and Hillary Clinton were each casting aspersions upon Nafta as if it were self-evidently a bad deal for American workers, especially for the hollowed-out working and middle classes in the Midwestern states, like Ohio and Michigan, that would decide the election. Incredibly, at least according to Trump, America’s … [Read more...] about First Canada Tried to Charm Trump. Now It’s Fighting Back.
President Trump arrives on Marine One yesterday at Walter Reed National Military Medical Center in Bethesda, Md. (Carolyn Kaster/AP) With Breanne Deppisch and Joanie Greve. THE BIG IDEA: President Trump sometimes seems impervious to the second and third order consequences of his decisions. Several recent developments have highlighted the unintended — though often foreseeable — consequences the president’s policies are having on his own supporters. In many cases, he’s following through on campaign promises — like cutting the flow of immigrants, renegotiating trade deals and rolling back regulations put in place by Barack Obama. But in the deeply interconnected global economy, the devil is always in the details and the implementation of some policies may do more to hurt than help the people who put their faith in him to fix their problems. Here are four examples: -- Small business owners who voted for Trump might be forced to shut down … [Read more...] about The Daily 202: Trump supporters suffer unintended consequences of his policies
President Trump’s tariffs on steel and aluminum are a vital “part of national security” designed to counter China’s dumping of cheap, subsidized steel into the United States – which is “an attack on American jobs,” a representative with the United Steelworkers labor union says. During a Monday roundtable by the AFL-CIO, United Steelworkers Pennsylvania President Kameen Thompson praised Trump’s 25 percent tariff on imported steel and 10 percent tariff on imported aluminum as necessary to not only save Americans’ jobs from being shipped overseas by free trade but also to keep America safe in the face of war.“[The tariffs are] part of national security and part of job creation,” Thompson said. Thompson continued: I would say, we are at war. We are at war on American jobs. Just to think that China can produce more steel in one month than the U.S. can in one year, it’s phenomenal, it’s something that’s … [Read more...] about United Steelworkers: Chinese Imports ‘An Attack on American Jobs,’ Trump’s Tariffs ‘Part of National Security’